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November 15, 2002 — (WEB HOST INDUSTRY REVIEW) — VitalStream Inc. parent company VitalStream Holdings Inc. (VitalStream.com) said on Friday that it had posted record revenues and a decline in net loss for the third quarter ending September 30, 2002.
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The company reported revenues of $1,061, 723 for the three-month period, a 122 percent increase over the same period last year and a 28 percent increase over the previous quarter.
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VitalStream says it recorded a net loss of $538,661, including about $75,500 in non-recurring expenses, a 13 percent improvement over the previous quarter and an improvement of 21 percent over the third quarter of 2001.
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“Our revenue growth accelerated in the third quarter due to strong demand for VitalStream’s services from new clients, including en-linea and BGM Sports Marketing, broadcaster of Wichita State University sports,” says Paul Summers, VitalStream’s chief executive officer. “In addition to new customers, VitalStream signed several strategic technology partnerships, including Sonic Foundry and Macromedia.”
